Prepaid credit cards, such as payroll and general spend cards, offer a solution to underbanked and nonbanked consumers. For example, prepaid credit cards have been developed to be used by employers as an alternative to direct deposit for unbanked employees. Such cards for example, may be used to pay bills, or use PIN-based technology through one or more point of sale (POS) or ATM networks.
However, there are fees associated with prepaid cards. For example, fees may be charged for transaction events such as withdrawing money from an ATM, ATM balance inquiries, POS purchases or other types of transactional activities.
As recognized by the present inventor, when the prepaid account approaches zero, the fee associated with a transaction event may cause the card balance to drop below zero. In this instance, the transaction would be denied, even if there were sufficient funds to complete the transaction alone.
It is against this background that the various embodiments of the present invention were developed.